View more on these topics

City solicitors issues warning on final salary pension schemes

City solicitors Rowe & Maw have issued a millennium warning to company directors, trustees and fund managers over final salary pension schemes.

Rowe & Maw pensions partner Andrew White is says by April 2000, final salary schemes must have produced their first actuarial valuation to confirm they meet minimum funding requirements.

He warns that if the scheme has a deficit of less than 10 per cent from the MFR then they have until April 2007 to make up[ the shortfall.

But for schemes with a deficit of more than 10 per cent of the MFR, the shortfall needs to be made up by April 2003.

White says as an employer withdrawing from an underfunded scheme must rectify the shortfall with an immediate cash injection. He believes this could be a dangerous trap for unwary companies looking to takeover or purchase a business.


FSA and Treasury unhappy with OFT report

The FSA and the Treasury are believed to be unhappy with the Office of Fair Tradings report into polarisation according to a report in the Financial Times today.The FT says the implementation of the OFT&#39s recommendations could be delayed as a result.It says Government officials believe the OFT has misunderstood the effects of the recommendation. […]

Advice could be built into stakeholder pension charges

Stakeholder pension provider could be allowed to exceed the 1 per cent annual management charge according to a report in today&#39s Financial Times.The paper says providers will be able to charge a higher fee if the product includes detailed advice. The charge will take the form of an upfront fee.The FT says the stakeholder pension […]

Societies&#39 mortgage lending soars as rates fall

Building society gross mortgage advances have increased for the secondconsecutive month, rising to £2.66bn in June from £2.37bn in May.The Building Societies Association says the rise is due to mortgage ratesbeing at their lowest levels for 30 years. But it stresses the market isnot gearing up for a 1980s-style housing boom, dismissing fears ofoverheating and […]

Neville James appoints investment director

Traded endowment policy specialists Neville James have appointed Peter Mason as investment director and actuary.Mason joins the Tep market maker from Guardian Royal Exchange where he held several senior positions including directorships.Mason is also a non-executive director of the Countrywide Assured Group.In his new role he will be responsible for all aspects of investment management […]

The curious market reaction to Brexit

Written by Mike Riddell29 June 2016 Headlines over the past few days have screamed about record falls in sterling, record low bond yields and massive falls in equity prices. However, if you take a slightly longer view of markets rather than simply the one- or two-day reaction, I think it’s amazing how little markets have […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm